Property

Riverina’s Western Rosella lists with $120M expectations

Grain Central, October 12, 2020

Almond orchards are a feature of the Western Rosella Farming Portfolio in the NSW Riverina. Photo: CBRE

THE substantial Western Rosella Farming Portfolio in the Riverina region of southern New South Wales has come to market with price expectations of $120 million.

Covering 13,652 hectares, it includes three properties within a radius of less than 100 kilometres: the 524ha Moora at Hillston, the 2419ha Euroley at Euroley, and
Newmarket, 10,708ha at Maude

The portfolio accesses separate irrigation systems and water products, and its diversified commodity mix includes established permanent plantings, and land approved for further development to support them, dryland and irrigated row cropping, and grazing.

CBRE Agribusiness has been appointed to market the portfolio and agent Danny Thomas said the portfolio represented an institutional scale holding for the region, and a significant opportunity to acquire a landholding benefiting from scale and first-class irrigation development with highly sought-after almond orchards.

“The portfolio offers an excellent agricultural offering for the region that will be of interest to investors, both domestic and international,” Mr Thomas said.

Moora is a highly developed almond orchard mostly planted in 2017, and has a Lower Lachlan Groundwater Entitlement of 7145 megalitres, an annual groundwater extraction limit of 7742Ml and 708Ml of high-security water from the Lachlan River.

Euroley is located 48km south-east of Griffith, has frontage to the Murrumbidgee River, and includes 376ha of almond orchard planted this year.

Euroley has 1000ML of temporary surface water secured for 2020-21, with access to the Murrumbidgee Regulated River Water Source via direct diversion.

Newmarket has 1281ha developed for lateral move and centre-pivot irrigation, 729ha of laser-levelled flood irrigation and 425ha of flood irrigation, with approval for development of a further 1,201ha.

Newmarket’s water entitlements including a Lower Murrumbidgee groundwater
entitlement of 6018Ml, a Murrumbidgee River supplementary entitlement of 649ML, and a domestic and stock entitlement of 341ML.

On-farm water storage at Newmarket can hold 7680ML.

The Riverina is renowned for producing almonds, walnuts, citrus and winegrapes as well as cotton, cereals, livestock and dryland crops.

On offer in one line or as separate properties, the portfolio is for sale by expression of interest closing 19 November.

 

 

 

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